Gas Sensors Market: Insights into the Competitive Scenario of the Market

October 1612:552017

Global gas sensors market is expected to reach a value of USD 2.32 billion by 2018, at a CAGR of 5.7% from 2012 to 2018.

Transparency Market Research announces the release of a new research report, titled “Gas Sensors Market – Global Industry Size, Share, Trends, Analysis and Forecast 2012 – 2018”. According to the report, the global gas sensors market is anticipated to develop at a 5.70% CAGR from 2012 to 2018, growing from a value of US$1.6 bn in 2012 to US$2.3 bn by 2018.

The gas sensors market is driven by the stringent occupational safety and health regulations, rapid growth of the automotive sector, and rising trend of using hybrid vehicles and clean energy. On the other hand, the demand for carbon dioxide sensors has taken a hit owing to efforts to reduce carbon emissions.Based on product, the gas sensors market is divided into sensors used to detect carbon dioxide, nitrogen oxide, oxygen, carbon monoxide, and others such as methane, ammonia, and hydrocarbons.

By technology, the gas sensors market is segmented into semiconductor, photoionization detectors (PID), infrared (IR), electrochemical, solid state or metal oxide semiconductor (MOS), catalytic, and others including thermal conductivity and thermal. Electrochemical and semiconductor technologies are the most preferred by consumers owing to the fact that they provide a high level of accuracy in detecting toxic or combustible gases. Moreover, they are also highly cost-effective.The key end-use applications that demand gas sensors include petrochemicals, industrial, building domestic and automation appliances, medical, automotive, and others such as educational institutes and research and development laboratories.

The industrial sector includes manufacturing and process industries and this segment accounts for the largest share in the gas sensors market in terms of revenue. Government mandates to curb emissions and rising concern regarding occupational safety are the main factors driving the demand for gas sensors in industrial applications. The automotive sector is also a major consumer of gas sensors, driven by the demand for better safety and comfort in automobiles. Gas sensors are used for monitoring fuel emission and cabin air quality, among others.

Geographically, the global gas sensors market is divided into North America, Asia Pacific, Europe, and Rest of the World. Europe currently dominates the global market. However, the massive automotive industry in Asia Pacific and the growing use of gas sensors in automobiles in the region is projected to help APAC surpass Europe as the largest gas sensors market by the end of the year.